The Trump administration is targeting Hezbollah's financial network with new sanctions in a bid to undermine Iran's influence overseas.

The Treasury Department says it's targeting six people and seven companies. The sanctions target a network of companies in Lebanon, Ghana, Liberia and elsewhere linked to prominent Hezbollah financier Adham Tabaja.

Senior Trump administration officials say it's the "first wave" of a campaign to squeeze Iranian-backed Hezbollah. They say the U.S. estimates Iran sends Hezbollah about $700 million annually.

The officials weren't authorized to speak publicly and spoke on condition of anonymity.

The administration says President Donald Trump is taking a tougher approach to Hezbollah and Iran than former President Barack Obama did.

The sanctions freeze any assets the targets have in the U.S. and bar Americans from dealing with them.